Jacob Rubin Acquires Multi Family Property In Bedford-Stuyvesant, Brooklyn For $3.075M
498 Putnam Avenue, Brooklyn, New York 11221, United States
$3,075,000
$328/SF
Building Size
9,360 SF
Asset Type
MultiFamily
Closing
Nov 29, 2021
AI
A multi-family property located at 498 Putnam Avenue in Bedford-Stuyvesant, Brooklyn has been sold. The property has a total square footage of 9,360 and a building square footage of 5,200. The sale took place on November 30, 2021, with a sale price of $3,075,000. The price per building square foot is $591, and the price per square foot is $329. The property has a zoning designation of R6B and falls under tax class 2B. The lot size is 2,600 square feet, with dimensions of 26 ft x 100 ft. The previous sale of the property occurred on May 30, 2018, at a price of $2,250,000.
Summary of transaction details
- Property Type: Multi Family
- Transaction Amount: $3,075,000
- Building Square Footage: 5,200
- Price per Building Square Foot: $591
- Total Square Footage: 9,360
- Price per Square Foot: $329
- Zoning: R6B
- Tax Class: 2B
- Lot Size: 2,600 square feet
- Lot Dimensions: 26 ft x 100 ft
The buyer of the property is Jacob Rubin, and the seller is Irina Saks. Jacob Rubin represented himself in the transaction, while Irina Saks was represented by her broker. The property has a floor area ratio of 3.60.
Players
New York MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
5.16%
Cash-on-Cash
-1.47%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93